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Genius Group Provides Update on Legal Cases
Globenewswire· 2025-08-18 12:36
Core Viewpoint - Genius Group Limited is actively addressing legal challenges, including a market manipulation lawsuit and a RICO lawsuit, and will provide updates through a Live Spaces call on August 26, 2025 [1][6]. Legal Updates - The Company is pursuing a rescission of its 2024 Asset Purchase Agreement with LZG International, seeking the return of 7.4 million GNS shares and $6.6 million in funds related to the agreement [3]. - The RICO case filed in Florida against Moe, Ritz, Clayton, and Carter seeks triple damages exceeding $750 million [3]. - The Company is preparing to file a lawsuit regarding alleged market manipulation, with details to be shared during the upcoming call [4]. Management and Legal Team - The Live Spaces call will feature CEO Roger James Hamilton and litigation attorneys James Wes Christian and Mark R Basile, hosted by Board Advisor Kevin Malone [2]. Shareholder Distribution Plan - A Board-approved distribution plan from future legal wins will allocate 50% of net proceeds to shareholders and 50% to purchase Bitcoin for the Company's Bitcoin Treasury [5]. Company Overview - Genius Group is a Bitcoin-first education group utilizing AI to provide solutions for the future of work, serving 5.8 million users across over 100 countries [7].
Genius Group Board approves shareholder dividend, Bitcoin purchase from proceeds of future legal wins.
Globenewswire· 2025-06-26 14:05
Core Viewpoint - Genius Group Limited has announced a distribution plan for future legal wins, allocating net proceeds equally for shareholder distribution and Bitcoin purchases for its treasury [1][2]. Legal Cases - The company is pursuing two legal cases seeking over $1 billion in combined damages, with one case filed under the RICO Act against LZGI International, Inc. for over $750 million in damages [2][3]. - The second lawsuit involves allegations of naked short selling, with initial damages estimated between $251.3 million and $262.7 million, and an updated amount expected to be significantly higher [2][3]. Distribution Plan - The Board has agreed to distribute 50% of any net damages recovered as a special dividend to shareholders and invest the remaining 50% in Bitcoin for the company's treasury [6][3]. - The distribution will apply to each instance of damage recovery, with net damages defined as amounts received after legal fees, recovery fees, and taxes [3][6]. Company Overview - Genius Group is an AI-powered education group with a Bitcoin-first treasury, serving 5.8 million users across over 100 countries through its Genius City model and online marketplace [4]. - The company focuses on personalized, entrepreneurial AI pathways that integrate human talent with AI skills and solutions at various levels [4].
Genius Group resumes buying Bitcoin, increases Bitcoin Treasury by 40%.
Globenewswire· 2025-05-22 12:00
Core Viewpoint - Genius Group Limited has resumed purchasing Bitcoin for its Treasury following a favorable ruling by the U.S. Court of Appeals, allowing the company to rebuild its Bitcoin holdings and shareholder value [1][3]. Group 1: Bitcoin Treasury Expansion - The company has increased its Bitcoin Treasury by 40%, acquiring an additional 24.5 Bitcoin, bringing the total to 85.5 Bitcoin, purchased for $8.5 million at an average price of $99,700 per Bitcoin [2]. - Genius Group aims to expand its Bitcoin Treasury to 1,000 Bitcoin, a target initially set in November 2024. The company had previously built its Treasury to 440 Bitcoin by February 2025 before being restricted from further purchases [3]. Group 2: Legal and Operational Restructuring - The company faced a Temporary Restraining Order and Preliminary Injunction from February 14 until May 6, which hindered its ability to buy Bitcoin. During this period, it was forced to sell most of its Bitcoin Treasury and has filed for damages in an amended RICO suit [3]. - Genius Group is restructuring its operations and launching a Bitcoin Academy featuring prominent Bitcoin advocates to support its educational initiatives [4]. Group 3: Company Vision and Commitment - The CEO of Genius Group emphasized the commitment to rebuilding shareholder value and delivering on the 2025 plan, focusing on educating students about AI, Bitcoin, and community to prepare for the digital economy [5]. - Genius Group serves 5.8 million users across over 100 countries, providing AI-powered education and acceleration solutions tailored for the future workforce [5].